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Home / Legal / Rent Agreement / What is lock in period?
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What is lock in period?

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0 2022-10-27T09:41:13+00:00
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Hi Pal

Lock-in period mainly is used for banking terms. The investor locks in his or her funds for a particular period of time, usually for a minimum period of 3 years and during this period he or she should not be withdrawing any money. The fund gets locked hence this term is used.

 

In real estate as well this term-lock-in is used. A person signs to stay in the property for the particular time stated, or agrees not to sell during the period.

You can come out of this system but you will need to pay a fee for doing so in most of the cases.

 

Feel free to resolve your real estate queries by NoBroker Legal Services’ experts anytime 

   Read More:

Can we vacate the property in 6 months where the lock-in period is of 1 year?

What is lock in period in rent agreement?

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